It's a good idea to keep an eye on this chaps.
formatting link
A few months ago ferrous scrap was about 4p a kilo and hardly worth selling. It's gone up 50% in the last month alone and is now about 23p a kilo. More than 1/4 of the price of aluminium. That scrap car you have lying on the drive is now worth £230 a tonne. An old car engine is worth £25 and even an old steel car wheel is about £2.
I'm keeping an eye on it for a bit before I cash in the several hundred kg of engine blocks and heads I have lying around in the workshop but at least they're worth six times what they were last year. I expect them to be worth even more next month.